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Mobile DRAM design specialist AP Memory Technology saw its revenues increase 99.84% on quarter and 44% on year to NT$1.257 billion (US$39.775 million) in the fourth quarter of 2016.

Increased demand for LPDDR2 memory products from both the feature phone and entry-level smartphone sectors drove revenue growth in the fourth quarter, according to a Chinese-language Commercial Times report.

For December alone, revenues reached NT$547 million, increasing 20.6% on month and 134% on year. For all of 2016, revenues totaled NT$3.161 billion, rising 21.5% from a year earlier.

The company posted an EPS of NT$2.95 in the first three quarters of 2016 and is expected to see its EPS reach over NT$6 for all of the year, the paper estimated.

Buoyed by its strong sales performance in December, the company's stock price surged by the daily 10% limit or NT$7.30 to finish at NT$80.60 on the Taiwan Stock Exchange (TSE) during the January 13 session.